GREECE
Macro/Political:
- S&P’s credit rating review of the Greek economy is scheduled to be released today. The Agency currently holds Greece at BBB, stable outlook.
- One month before its review of the Greek economy, Fitch Ratings commented on the impressive decline in Greece’s debt to GDP ratio. The agency noted that it expects the ratio to fall to 120% by 2030, supported by projected budget surpluses and sustainable economic growth, which is expected to average 2% per year over the next three years. It is also worth noting that the agency currently rates the country at BBB- with a positive outlook.
Source: Capital.gr
- According to the revised data from ELSTAT, Greece’s GDP for the year 2024, in volume terms, increased by 2.1% (y-o-y), compared with a 2.3% (1st estimate).
Source: ELSTAT
- Greek government officials are considering a new support package for farmers as payment delays and livestock disease pressures intensify, Agriculture Minister Kostas Tsiaras told ruling New Democracy party lawmakers on Wednesday. Tsiaras briefed legislators at party headquarters on two critical issues currently affecting the agricultural sector, are delays in payments from OPEKEPE and the impact of livestock diseases. He attributed the payment delays to rigorous EU audits conducted for the first time, which caught the Greek state mechanism unprepared and resulted in a demanding, time-consuming process.
Source: Kathimerini
Markets:
- PPC raised EUR 775mn through the issuance of 5NC2 Green senior unsecured bond at 4.25% yield. The proceeds from the Offering will be used to redeem in full its EUR 775.0 mn aggregate principal amount of Sustainability Linked Senior Notes due 2026 and pay fees and expenses related to the Offering. PPC plans to allocate an amount equivalent to the net proceeds of the Offering to finance or refinance, in whole or in part, eligible green projects.
Source: ATHEX
- Moody’s upgraded Alpha Bank’s long-term deposit ratings to Baa1 from Baa2, driven by an upgrade of its standalone Baseline Credit Assessment (BCA) and Adjusted BCA to Baa3 from Ba1.
Source: Moody’s
CYPRUS
Macro/Political:
- Data published by the CBC showed that in July 2025 the non-performing loans (aggregate data for all credit institutions) in Cyprus decreased by EUR 15.39mn (m-o-m) to EUR 1,439.42mn (NPL ratio decreased to 5.5%) from EUR 1,454,81 mn in June 2025.
Source: CBC
